JDOC vs. MDEV

Last updated Jun 24, 2026

JDOC (Jpmorgan Healthcare Leaders ETF) and MDEV (First Trust Indxx Medical Devices ETF) are both Health & Biotech Equities funds. JDOC is actively managed, while MDEV is passively managed. Over the past year, JDOC returned 17.29% vs -7.87% for MDEV. A 0.70 correlation means they provide meaningful diversification when combined. JDOC charges 0.65%/yr vs 0.70%/yr for MDEV.

Performance

JDOC vs. MDEV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Jpmorgan Healthcare Leaders ETF (JDOC) and First Trust Indxx Medical Devices ETF (MDEV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JDOC achieves a -0.08% return, which is significantly higher than MDEV's -11.56% return.

JDOC

• 1D: 1.11%
• 1M: 2.00%
• YTD: -0.08%
• 6M: -0.49%
• 1Y: 17.29%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MDEV

• 1D: 0.35%
• 1M: -1.40%
• YTD: -11.56%
• 6M: -12.11%
• 1Y: -7.87%
• 3Y*: -3.34%
• 5Y*: -6.04%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

JDOC vs. MDEV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
JDOC Jpmorgan Healthcare Leaders ETF	-0.08%	15.36%	-1.04%	7.92%
MDEV First Trust Indxx Medical Devices ETF	-11.56%	2.00%	1.79%	20.08%

Correlation

The correlation between JDOC and MDEV is 0.67, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.67
Correlation (All Time) Calculated using the full available price history since Nov 2, 2023	0.70

The correlation between JDOC and MDEV has been stable across timeframes, ranging from 0.67 to 0.70 - a consistent structural relationship.

JDOC vs. MDEV - Sectors Allocation Comparison

Sectors	JDOC	MDEV
Healthcare	100.0%	100.0%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

JDOC vs. MDEV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

JDOC

JDOC Risk / Return Rank: 36
JDOC Sharpe Ratio Rank: 36
JDOC Sortino Ratio Rank: 39
JDOC Omega Ratio Rank: 34
JDOC Calmar Ratio Rank: 38
JDOC Martin Ratio Rank: 33

MDEV

MDEV Risk / Return Rank: 5
MDEV Sharpe Ratio Rank: 5
MDEV Sortino Ratio Rank: 5
MDEV Omega Ratio Rank: 5
MDEV Calmar Ratio Rank: 5
MDEV Martin Ratio Rank: 4

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

JDOC vs. MDEV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Jpmorgan Healthcare Leaders ETF (JDOC) and First Trust Indxx Medical Devices ETF (MDEV). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	JDOC	MDEV	Difference
Sharpe ratio: Return per unit of total volatility	1.21	-0.49	+1.70
Sortino ratio: Return per unit of downside risk	1.92	-0.60	+2.52
Omega ratio: Gain probability vs. loss probability	1.22	0.93	+0.28
Calmar ratio: Return relative to maximum drawdown	1.79	-0.44	+2.23
Martin ratio: Return relative to average drawdown	4.54	-1.00	+5.55

JDOC vs. MDEV - Sharpe Ratio Comparison

The current JDOC Sharpe Ratio is 1.21, which is higher than the MDEV Sharpe Ratio of -0.49. The chart below compares the historical Sharpe Ratios of JDOC and MDEV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

JDOC vs. MDEV - Drawdown Comparison

The maximum JDOC drawdown since its inception was -20.87%, smaller than the maximum MDEV drawdown of -42.34%. Use the drawdown chart below to compare losses from any high point for JDOC and MDEV.

Drawdown Indicators

	JDOC	MDEV	Difference
Max Drawdown Largest peak-to-trough decline	-20.87%	-42.34%	+21.47%
Max Drawdown (1Y) Largest decline over 1 year	-9.68%	-18.13%	+8.45%
Max Drawdown (3Y) Largest decline over 3 years	—	-22.50%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-42.34%	—
Current Drawdown Current decline from peak	-3.20%	-33.81%	+30.61%
Average Drawdown Average peak-to-trough decline	-6.93%	-25.71%	+18.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.81%	7.87%	-4.06%

Volatility

JDOC vs. MDEV - Volatility Comparison

Jpmorgan Healthcare Leaders ETF (JDOC) has a higher volatility of 5.26% compared to First Trust Indxx Medical Devices ETF (MDEV) at 4.27%. This indicates that JDOC's price experiences larger fluctuations and is considered to be riskier than MDEV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JDOC	MDEV	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.26%	4.27%	+0.99%
Volatility (6M) Calculated over the trailing 6-month period	10.56%	11.81%	-1.25%
Volatility (1Y) Calculated over the trailing 1-year period	14.35%	16.17%	-1.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.52%	18.96%	-4.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.52%	18.95%	-4.43%

JDOC vs. MDEV - Expense Ratio Comparison

JDOC has a 0.65% expense ratio, which is lower than MDEV's 0.70% expense ratio.

Dividends

JDOC vs. MDEV - Dividend Comparison

JDOC's dividend yield for the trailing twelve months is around 0.89%, while MDEV has not paid dividends to shareholders.

Position	TTM	2025	2024	2023
JDOC Jpmorgan Healthcare Leaders ETF	0.89%	0.89%	5.57%	0.15%
MDEV First Trust Indxx Medical Devices ETF	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both JDOC and MDEV in my portfolio?

JDOC and MDEV have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JDOC or MDEV?

JDOC has higher volatility (5.26%) compared to MDEV (4.27%). In terms of maximum drawdown, JDOC dropped -20.87% vs MDEV's -42.34%.

Which ETF is better, JDOC or MDEV?

On 1-year performance, JDOC leads with 17.29% vs -7.87% for MDEV. On fees, JDOC is cheaper at 0.65% per year. On volatility, MDEV has been the lower-risk option at 4.27%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JDOC or MDEV?

Over the 1-year period, JDOC has performed better with a 17.29% return vs -7.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JDOC or MDEV?

JDOC is cheaper with a 0.65% expense ratio, compared with 0.70% for MDEV.

Which ETF pays a higher dividend yield, JDOC or MDEV?

JDOC has the higher dividend yield at 0.89%, compared with 0.00% for MDEV.

What is the main difference between JDOC and MDEV?

They also come from different issuers: JPMorgan and First Trust. Their fees differ too: 0.65% for JDOC and 0.70% for MDEV.

Which has better risk-adjusted returns?

JDOC currently has the higher Sharpe Ratio (1.21 vs -0.49), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.